Black Friday and Cyber Monday are excellent opportunities for customers to get hold of some great deals, while for retailers, it is an outstanding time to clear up their stocks. But, unfortunately, even cybercriminals utilize this time to execute scams and crimes that affect businesses.
According to global collective research in 2022, there is $41 billion in fraud damages reported from the e-commerce industry. However, it is anticipated that by the end of 2023, the loss will surpass $48 billion.
As cyber criminals initiate new routine scams around the time of these events, it is the right time for CISOs and other IT teams to step up their vigilance plan of action to counter such malicious attacks and protect their business as well as the interest of their valued customers.
With the help of this article, we will delve deep into some useful tips to create a secure online shopping experience.
Key Actions for Black Friday Cybersecurity
During such frenzied festive seasons, the CISOs and IT managers should be cautious as threat actors are on their toes to ruin businesses with their scams and deceiving tactics.
So, to prevent such incidents here are four essential key actions you can conduct:
Create a Robust Cybersecurity Plan
Planning a robust cybersecurity plan during events and festivals, like Black Friday or Cyber Monday can involve multiple approaches. It has been witnessed that cyber actors are ahead in the game by using tactics like:
Custom site designs for the event or early bird deals to fool customers into clicking on them and impersonating them as your customers.
It has been seen that customers are attracted to clickbait that forces your company to get their sensitive information, like credit or debit card details, addresses, mobile numbers, and many more.
Thus, chalking out the areas where monitoring is needed or what steps and protocols are needed to eliminate these incidents will save you valuable money and resources in turn giving your customers the retail therapy they deserve.
Implement Automated Data Security and Compliance
You need to ensure that your website or application follows all the rules and regulations in terms of data security and compliance.
Implement automated data security and compliance services that scan your network and notify you in real-time of any suspicious activity, which allows you to promptly act before any damage occurs.
Automated solution tools like Scrut, Vanta, Drata, and Tugboat Logic help employees monitor and report threats promptly.
The only standard approach to implement these tools would require adequate routine team training with appropriate knowledge transfer for personnel to operate these tools and defeat cyber criminals ahead of time!
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